Presentation, 29 January 2016

January – December 2015

Financial overview

October – December 2015

• Revenue increased by 14 percent to SEK 325.7 million (284.5)

• Operating profit rose by 18 percent to SEK 113.2 million (95.6)

• Profit after tax increased by 9 percent to SEK 87.5 million (80.0)

• Earnings per share before and after dilution were up by 9 percent to SEK 0.50 (0.46)

January – December 2015

• Revenue increased by 15 percent to SEK 1,249.4 million (1,085.8)

• Profit after tax increased by 29 percent to SEK 357.1 million (276.6)

• Earnings per share before dilution were up by 30 percent to SEK 2.05 (1.58)

• Earnings per share after dilution were up by 29 percent to SEK 2.04 (1.58)

Highlights from Q4 2015

• Launch of Nordnet Supermarket – commission-free

trading in over 6,000 exchange-traded products

• Nordnet’s customers carried out 5.7 million transactions –

a quarterly record

• Lending exceeded SEK 7 billion

• Nordnet’s Board of Directors proposes increasing the

dividend to SEK 1.30 (1.00) per share

Customers and accounts

Accounts/Customer Q4 2015: 1.28 (1.26)

Customers 12M: +57,800 / 13%Accounts 12M: +82,900 / 15%

0

100 000

200 000

300 000

400 000

500 000

600 000

700 000

Q1 14 Q2 Q3 Q4 Q1 15 Q2 Q3 Q4

Customers Accounts

Net savings and savings capital (SEK billion)

In relation to savings capital at the end of December 2014, net savings for the past 12 months correspond to 8 %, adjusted for Söderberg & Partners 12 %.

0,0

1,0

2,0

3,0

4,0

5,0

6,0

7,0

8,0

9,0

0

50

100

150

200

250

Q1 14 Q2 Q3 Q4 Q1 15 Q2 Q3 Q4

ne

t sa

vin

gs

sav

ing

s c

ap

ita

l

Net savings Savings capital

4 134

3 216 3 230

4 062

4 907

4 3924 799

5 734

0

1 000

2 000

3 000

4 000

5 000

6 000

Q1 14 Q2 Q3 Q4 Q1 15 Q2 Q3 Q4

Trades (thousands)

12M: 19,931

Lending (SEK billion)

3,5 3,3 3,5 3,33,8 3,8 4,1 4,5

2,2 2,3 2,3 2,32,3 2,4

2,52,6

0

1

2

3

4

5

6

7

8

Q1 14 Q2 Q3 Q4 Q1 15 Q2 Q3 Q4

Margin lending Personal loans

120 123 121 114 111 106 101 100

127 108 110 134167

145 148 165

3428 30

37

52

49 45

61

0

50

100

150

200

250

300

350

Q1 14 Q2 Q3 Q4 Q1 15 Q2 Q3 Q4

Net interest income Net commission income Other income

Revenue development (SEK million)

12M: SEK 1,249 million

Cost development (SEK million incl. credit losses)

12M: SEK 801 million

186 188 186 189 194 199 196

212

0

50

100

150

200

250

Q1 Q2 Q3 Q4 Q1 15 Q2 Q3 Q4

Operating profit (SEK million)

12M: SEK 449 million

95

71

75

96

136

101 98

113

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

0

20

40

60

80

100

120

140

160

Q1 14 Q2 Q3 Q4 Q1 15 Q2 Q3 Q4

Operating profit Operating margin

265,0

29,2

108,1

46,4

SE

NO

DK

FI

Nordnet in the Nordics (Jan-Dec 2015)

Savings capital (SEK billion)

Revenue (SEK million) Operating profit (SEK million)

Customers

NO, DK, FI share of total

49%

NO, DK, FI share of total

51%

NO, DK, FI share of total

41%

NO, DK, FI share of total

45%

103

20

36

42

SE

NO

DK

FI

238 500

70 800

54 700

126 400SE

NO

DK

FI

683,3

153,5

222,6

190,0

SE

NO

DK

FI

Income statement (SEK million)3 months 3 months 12 months 12 months

Consolidated Income Statement (SEK million) Oct-Dec 2015 Oct-Dec 2014 Jan-Dec 2015 Jan-Dec 2014

Net interest income 100,0 114,2 417,9 478,6

Net commission income 164,7 133,7 624,7 478,2

Other income 60,9 36,6 206,8 129,1

Total operating income 325,7 284,5 1 249,4 1 085,8

General administrative expenses -172,4 -151,7 -639,1 -590,7

Depeciation and amortization -20,2 -15,3 -79,6 -71,0

Other operating expenses -10,1 -11,4 -40,8 -44,1

Total operating expenses -202,7 -178,4 -759,4 -705,8

Profit before credit losses 123,0 106,1 490 380,1

Net credit losses -9,8 -10,5 -41,3 -43,1

Operating profit 113,2 95,6 448,6 337,0

Tax on profit for the period -25,7 -15,5 -91,5 -60,3

Profit for the period 87,5 80,0 357,1 276,6

Earnings per share before dilution 0,50 0,46 2,05 1,58

Earnings per share after dilution 0,50 0,46 2,04 1,58

Balance sheet (SEK million)

Consolidated Balance Sheet (SEK million) 2015-12-31 2014-12-31

Assets

Loans to credit institutions 294,7 987,5

Loans to the general public 7 247,4 5 785,6

Financial assets at fair value 10,8 8,7

Financial assets avalibale for sale 11 877,4 12 094,6

Financial assets held to maturity 3 381,6 -

Financial assets - policy holders bearing the risk 35 995,1 28 868,5

Tangible and intangible assets 419,1 466,5

Current tax assets 110,1 -

Other assets 2 440,0 1 770,3

Prepaid expenses and accrued income 102,6 144,7

Total assets 61 878,8 50 126,5

Liabilities

Liabilit ies to credit institutions 396,5 -

Deposits and borrowing by the public 19 605,4 16 500,3

Liabilit ies to policyholders 35 996,2 28 869,3

Other liabilit ies 4 006,8 3 005,7

Total liabilities 60 004,9 48 375,3

Equity

Share capital 175,0 175,0

Other capital contributions 470,0 417,3

Other provisions -113,3 -64,8

Accrued profit including profit for the period 1 338,4 1 166,1

Total shareholders' equity attributable to shareholders of the Parent Company 1 870,1 1 747,6

Non-controlling interest 3,9 3,5

Total equity 1 874,0 1 751,1

Total liabilities and equity 61 878,8 50 126,5

Capital requirement (SEK million)

Capital requirements for the financial conglomerate (SEK million) 2015-12-31 2014-12-31

Total equity, Group 1 874,0 1 751,1

Subordinated liablities - 140,6

Requirements for prudent valuation -11,9 -12,1

Less expected div idend for current year -227,5 -175,0

Less intangible fixed assets and deferred tax receivables -389,7 -434,3

Capital base 1 244,8 1 270,3

Risk exposures

Exposure credit risk 5 435,2 5 650,2

Exposure market risk 22,4 18,1

Exposure operational risk 1 957,4 1 888,6

Exposure other risks 439,0 402,7

Total exposure 7 854,0 7 959,6

Capital ratio 15,8% 16,0%

Next at Nordnet

• Continue to execute on our growth

strategy

• Focus on enhanced user experience

• Continue to market and product develop

around lending products

Contact us

More information: nordnetab.com

Become a customer: nordnet.se/no/dk/fi

Social network investing: shareville.se/no/dk/fi

Follow: nordnetbloggen.se / Twitter @CEONordnet